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Property profile & analytics
OFF-MARKET
Estimated value
$25,960,000
Commercial real estate
420 Spaulding SE Ave, Ada, MI 49301-7820
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1303325
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2008
Total area
226,877 SF
Lot
22.4 ac (975,744 SF)
Zoning code
R2
APN
41-15-31-201-061
UPID
US43-1303325
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Michelle L. Degraaf, MSN Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$25.96M
Blend (final)
Blend
$25.96M
Owner & transaction history
Phip Stone Falls LLC · 4 yrs held
Phip Stone Falls LLC
since 2022
4 recorded transactions
Zoning & alternative use
R2 · Ada, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ada submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ada submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$18,640,000
Current use
RETAIL STORES
$18,440,000
Change: -1% · Conversion: Easy
OFFICE BUILDING
$17,390,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$25.96M
Range $23.36M – $28.56M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$114 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Tax billed
$780,185
Tax year 2021
Assessed value
$15,172,700
Assessed 2023
Previous assessed
$14,599,800
+3.9% YoY
Effective rate
5.14%
On assessed value
Total market value
$30,345,400
Applied tax rate
11.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2008
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Total area
226,877 SF
Lot
22.4 ac (975,744 SF)
Zoning code
R2
APN
41-15-31-201-061
UPID
US43-1303325
Jurisdiction
KENT
Zoning & alternative use
R2 · Ada, MI
Zoning R2 · permitted uses
R2 · Ada, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ada. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$18.6M
RETAIL STORES
Est. value
$18.4M
OFFICE BUILDING
Est. value
$17.4M
COMMERCIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Heating
NONE
Cooling
Yes
Stories
1
Lot
22.4 ac
Current owner
From public records · entity-resolved
Phip Stone Falls LLC
Entity
Mailing address
2502 LK LANSING RD STE C, LANSING, MI 48912-3661
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2022
—
Phip Stone Falls LLC
Hcg Sf LLC
Deed
$42,900,000 · The Northwest Mutual Life Insurance
Sep 25, 2018
—
Hcg Sf LLC
Ada Apartment Investment LLC
Warranty Deed
$33,603,000 · Berkadia Commercial Mortgage LLC
Nov 29, 2007
—
Ada Apartment Investment LLC
Clements Mill Apartments LLC
Warranty Deed
$20,250,000 · National City Bank
—
—
Ada Apartment Investment LLC
—
Deed Of Trust
related
$26,800,000 · Redwood Commercial Mtg Corp
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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